Defining the term 'off-budget'

The term “off-budget”, although widely used in legal parlance and by-laws, is not a statutory defined term. It usually refers to the state of affairs when certain action, project, activity or entity is not subsidized by the state budget, but is rather self-financed. This is normally used to make certain governmental subdivisions self-sustainable in their activity (e.g. Pension Off-Budget Fund that actually operates under the Ministry of Finance and is not a separate legal person). As a separate legal person, any private legal entity or public organization is “off-budget” per se. It explains why this term is virtually never used with respect to non-governmental entities. Since this term stipulates the internal status of funding of governmental subdivisions, it is not defined for anyone else.

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Defining the term 'off-budget'

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